Danish Ørsted, which is a partner with Bill Gates-founded Breakthrough Energy Catalyst, writes in a press release that the American billionaire Bill Gates will make a billion-dollar investment in Örnsköldsvik's Flagship One.
"Bill Gates is investing €204 million in a couple of projects, and one of them is Flagship One," says Sebastian Hald Buhl, Country Manager Sweden at Ørsted.
The funding aims to enable long-term supply agreements for Flagship One, creating a new model where the shipping industry can buy green fuels for the future.
Completed in 2025
Flagship One is currently under construction in Örnsköldsvik and is expected to produce up to 55,000 tonnes of e-methanol per year, which would make it Europe's largest facility for the production of green fuel.
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